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CareConnections offers a wide variety of savings and investment options to meet your financial needs. We offer the following accounts.
Regular Shares
This is the basic account that establishes membership in the Credit Union. Deposits can be made by personal deposits and/or by payroll deductions or direct deposits that are withheld from each paycheck. They can be distributed between several accounts, including family accounts. Dividends are paid and compounded monthly. Dividends are paid from retained earnings and cannot be guaranteed.
Excess withdrawal fee is $2.00 per withdrawal. Four free withdrawals allowed per month including P.A.T.T. (audio response) transactions. An audio response system allows 24-hour access to credit union accounts. Members can apply for ATM cards to access their savings. They allow withdrawals up to $300 per day at financial institutions, in the STAR or COOP System and affiliated networks. Deposits can be made at Credit Unions or select companies in the CO-OP network. For locations, visit www.co-opnetwork.org. Members are allowed five free ATM withdrawals or transfers per month. A $1 fee is charged for each additional transaction. There are no transaction fees for deposits.
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Checking Advantage
No monthly fee and unlimited check writing.
- Establish the account with an initial deposits of $25 from which the check-printing charges are deducted.
- Overdraft protection is available with automatic transfer from Regular Shares or a line of credit.
- There are no dividends for this account.
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Money Market Advantage
Minimum investment of $2,500. This account offers outstanding dividend rates on your average daily balance. It is accessible with free checks allowing you three pre-authorized debits or checks per month. A $3 fee will be charge for each additional debits. If the balance falls under the minimum investment you earn the Regular Share dividends.
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Individual Retirement Accounts (IRA)
Start saving for retirement with an IRA account. Care Connections provides you with two IRA saving options. Contributions may be done by direct deposit as well.
IRA Certificates. Minimum of $1,000. Choices of one-, two-, or three-year terms. Rates are fixed until maturity. Dividends are paid and compounded monthly. Penalties may reduce earnings for early withdrawals of IRA certificates.
IRA Share Account (Liquid). Minimum of $20. Choose between Tradition or ROTH IRA depending on your needs. Upon reaching $1,000, you may opt to transfer the balance to higher yield IRA certificate.
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Share Certificates
Certificates are available for 3-, 6-, 12-, 24-, and 36-month terms. Other terms are available. There is a substantial penalty for early withdrawals.
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Deposits are insured up to $100,000 by the National Credit Union Administration. Individual Retirement Accounts (IRA) are insured up to $250,000.
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